No, effective regulation is the key. We had plenty of entities who were responsible to oversee this stuff and they all failed. What good is more regulation if it doesn't work. Part of the problem was more regulation and mandating/inducing lending to people who shouldn't have been buying a house. This was some of the stuff the Maxine Waters and Barney Frank's of the world pushed. We have sold two false dreams in this country: everyone should own a home and go to college. Some people have no business owning a home. Some people have no business in college and should learn a trade. However, if we say that we are somehow disadvantaging or descriminating against individuals or groups. It helped fed the problem. However, don't kid yourself. It was a systemic failure led by greed (lenders and those accepting the loads), stupidity and failure to enforce the regulations/checks the system had in place. However, it's easier to just blame the banks, ignore reality and say we need "more regulation". Whatever the heck that means.